Wong Chuk Hang, an industrial neighborhood to the east of Aberdeen on Hong Kong Island, is set have a new commercial building that will allocate a significant portion of its floor space for arts and creative purposes with subsidized rents.
“Genesis”, a redevelopment project of an old industrial building, will be unveiled on January 26 by Hip Shing Hong (Holdings) Co., according to Ming Pao Daily News.
David Fong, managing director of Hip Shing Hong, was quoted as saying one-tenth of the floor space will be allocated for art and creative purposes and that those tenants will be charged one-third of the market rent.
The Hong Kong Arts Development Council (ADC) signed up lease for an entire floor last month, and will be splitting the space into 17 workshops to be sub-rented to local artists.
Other not-for-profit organizations, such as TWGHs and Hong Kong Federation of Youth Groups are reportedly moving into the new building, a 23-storey structure located near the upcoming Wong Chuk Hang MTR station.
After four years of renovation, 18 floors of the building will be used as commercial offices, while the remaining five will become a shopping complex, according to Ho Chow-lai, the architect who was responsible for the project.
Decorations could be hung outside the buildings overlooking Wong Chuk Hang Road, an inspiration Ho said he came up with while being stuck in traffic on the road. “I asked myself, why not enjoy some works of art while being stuck in traffic?”
The per-square-foot rent for Genesis, which has around 240,000 square feet up for rental, will reportedly range from HK$16 to HK$20.
According to ADC, the sub-rented work spaces will range from 300 to 1,400 square feet each. Twenty-seven local visual and media artists are said to have already signed up for them. The rent for these artists will be HK$8 per square foot during the first two years, while emerging artists who have graduated within the last three years will have half their rent subsidized.
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